How China’s young managers grappled with billion-yuan mandates as AI shocks hit portfolios

As Leopold Aschenbrenner’s US hedge fund saw assets wiped off by more than two-thirds in a single month, some of China’s new portfolio managers also felt the shock across the Pacific, learning bitter lessons early in their careers. The 50-day market turmoil, sparked by a global correction in artificial intelligence stocks in June, turned some of China’s rookie managers into an unwitting focal poin